Best Cities for Small Business

Our 12th annual Hot Cities report will give you the lowdown on the nation's most dynamic cities for entrepreneurs.

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July 1, 2008

Whether you're looking to expand, relocate or simply stay put, our quick guide to the top 10 best cities for entrepreneurship offers a snapshot view of these entrepreneurial hot spots. With information on population, median home price, hot industries and more, you'll see why new businesses are booming in these areas. We also uncover the number of significant startups--companies in these areas with five or more employees that started between four and 14 years ago and are still in business--to show you just how well these regions have helped foster, grow and keep entrepreneurs in business.

The city of Phoenix helps guarantee SBA loans through its Expansion Assistance and Development (EXPAND) program

Sunny, outdoorsy lifestyle

"There's a lot of opportunity for new businesses because of the population growth, especially in sectors [such as] real estate, food service, tourism and relocation businesses" 13 Lee McPheters, Arizona State University business school dean

Why Start Here?
22 Steady immigration of young, educated workers
22 Business-friendly banking community
22 High-quality labor force and low-cost labor environment
22 Unemployment insurance, tax rates and worker's compensation rates that rank among the lowest in the nation
22 Charlotte is the only U.S. city to participate in the Cities of Tomorrow network: It was chosen for its quality of life and has been used as a model for cities worldwide.

Raleigh-Durham-Chapel Hill, NC

The William S. Lee Quality Jobs and Expansion Act gives qualifying companies tax credits for job creation, investment in machinery and equipment, worker training, research and development, and investment in business property.

More than 40% of the adult population holds a bachelor's degree or higher.

A unique technology community, Centennial Campus, blends public, academic and private-sector research and is the only public-private partnership of its kind in the US